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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2021
Derivative [Line Items] |
Schedule Of Derivative Financial Instruments Included In The Consolidated Balance Sheets | All derivative financial instruments are recognized at their current fair value as either assets or liabilities in the consolidated balance sheets. Amounts related to contracts allowed to be netted upon payment subject to a master netting arrangement with the same counterparty are reported on a net basis in the consolidated balance sheets. The table below presents a summary of these positions as of December 31, 2021 and 2020.
| December 31, 2021 |  |  | December 31, 2020 |  |  |
| Gross Fair Value |  |  | Amounts Netted |  |  | Net Fair Value |  |  | Gross Fair Value |  |  | Amounts Netted |  |  | Net Fair Value |  |  | Balance Sheet Classification
Commodity derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term derivative asset | $ | 6 |  |  | $ | (4 | ) |  | $ | 2 |  |  | $ | 23 |  |  | $ | (18 | ) |  | $ | 5 |  |  | Other current assets
Long-term derivative asset |  | 6 |  |  |  | — |  |  |  | 6 |  |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  | Other long-term assets
Short-term derivative liability |  | (579 | ) |  |  | 4 |  |  |  | (575 | ) |  |  | (161 | ) |  |  | 18 |  |  |  | (143 | ) |  | Other current liabilities
Long-term derivative liability |  | (2 | ) |  |  | — |  |  |  | (2 | ) |  |  | (5 | ) |  |  | — |  |  |  | (5 | ) |  | Other long-term liabilities
Total derivative liability | $ | (569 | ) |  | $ | — |  |  | $ | (569 | ) |  | $ | (142 | ) |  | $ | — |  |  | $ | (142 | ) |  |
Open Oil Derivative Positions [Member] |
Derivative [Line Items] |
Schedule Of Open Derivative Positions |
|  | Price Swaps |  |  | Price Swaptions |  |  | Price Collars |  |
Period |  | Volume (Bbls/d) |  |  | Weighted Average Price ($/Bbl) |  |  | Volume (Bbls/d) |  |  | Weighted Average Price ($/Bbl) |  |  | Volume (Bbls/d) |  |  | Weighted Average Floor Price ($/Bbl) |  |  | Weighted Average Ceiling Price ($/Bbl) |  |
Q1-Q4 2022 |  |  | 26,112 |  |  | $ | 43.75 |  |  |  | 10,000 |  |  | $ | 46.67 |  |  |  | 28,160 |  |  | $ | 51.44 |  |  | $ | 61.78 |  |
Q1-Q4 2023 |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |  |  |  | 1,110 |  |  | $ | 60.58 |  |  | $ | 70.58 |  |
|  | Oil Basis Swaps |
Period |  | Index |  | Volume (Bbls/d) |  |  | Weighted Average Differential to WTI ($/Bbl) |
Q1-Q4 2022 |  | BRENT |  |  | 1,000 |  |  | $ | (7.75 | )
Q1-Q4 2022 |  | NYMEX Roll |  |  | 29,000 |  |  | $ | 0.45 |
Open Natural Gas Derivative Positions [Member] |
Derivative [Line Items] |
Schedule Of Open Derivative Positions | The second table presents Devon’s natural gas derivatives that settle against the respective indices noted within the table.
|  | Price Swaps (1) |  |  | Price Collars (2) |
Period |  | Volume (MMBtu/d) |  |  | Weighted Average Price ($/MMBtu) |  |  | Volume (MMBtu/d) |  |  | Weighted Average Floor Price ($/MMBtu) |  |  | Weighted Average Ceiling Price ($/MMBtu) |
Q1-Q4 2022 |  |  | 110,986 |  |  | $ | 2.77 |  |  |  | 164,342 |  |  | $ | 2.78 |  |  | $ | 3.55 |
Q1-Q4 2023 |  |  | 4,959 |  |  | $ | 3.65 |  |  |  | 23,000 |  |  | $ | 3.32 |  |  | $ | 4.63 |
| (1) | Related to the 2022 open positions, 10,986 MMBtu/d settle against the Inside FERC first of month Henry Hub index at an average price of $3.40 and 100,000 MMBtu/d settle against the end of month NYMEX index at an average price of $2.70. All 2023 open positions settle against the Inside FERC first of month Henry Hub index.
| (2) | Price Collars settle against the Inside FERC first of month Henry Hub.
|  | Natural Gas Basis Swaps |
Period |  | Index |  | Volume (MMBtu/d) |  |  | Weighted Average Differential to Henry Hub ($/MMBtu) |
Q1-Q4 2022 |  | WAHA |  |  | 70,000 |  |  | $ | (0.57 | )
Q1-Q4 2023 |  | WAHA |  |  | 70,000 |  |  | $ | (0.51 | )
Q1-Q4 2024 |  | WAHA |  |  | 40,000 |  |  | $ | (0.51 | )

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